Cabot Microelectronics (CCMP) Rating Lowered to Hold at BidaskClub

Cabot Microelectronics (NASDAQ:CCMP) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

A number of other research analysts also recently commented on the company. Zacks Investment Research raised Cabot Microelectronics from a “hold” rating to a “strong-buy” rating and set a $112.00 price target for the company in a report on Tuesday, November 7th. Loop Capital increased their target price on Cabot Microelectronics from $94.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, October 27th. Citigroup increased their target price on Cabot Microelectronics from $80.00 to $94.00 and gave the stock a “neutral” rating in a report on Friday, October 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $85.00 target price on shares of Cabot Microelectronics in a report on Tuesday, September 19th. Finally, Seaport Global Securities initiated coverage on Cabot Microelectronics in a report on Wednesday, September 6th. They set a “buy” rating on the stock. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Cabot Microelectronics presently has an average rating of “Buy” and an average price target of $99.75.

Cabot Microelectronics (NASDAQ:CCMP) opened at $92.31 on Tuesday. The company has a market capitalization of $2,337.40, a PE ratio of 25.89 and a beta of 1.42. Cabot Microelectronics has a 1-year low of $60.55 and a 1-year high of $102.92. The company has a quick ratio of 5.25, a current ratio of 6.04 and a debt-to-equity ratio of 0.22.

Cabot Microelectronics (NASDAQ:CCMP) last issued its quarterly earnings results on Thursday, October 26th. The semiconductor company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.20. The firm had revenue of $136.80 million during the quarter, compared to the consensus estimate of $132.18 million. Cabot Microelectronics had a return on equity of 16.27% and a net margin of 17.10%. Cabot Microelectronics’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.91 earnings per share. equities analysts forecast that Cabot Microelectronics will post 4.02 EPS for the current fiscal year.

In other news, insider William S. Johnson sold 17,594 shares of the stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $96.38, for a total transaction of $1,695,709.72. Following the sale, the insider now directly owns 100,699 shares in the company, valued at approximately $9,705,369.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Daniel D. Woodland sold 8,567 shares of the stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $93.40, for a total value of $800,157.80. Following the sale, the vice president now owns 15,404 shares in the company, valued at $1,438,733.60. The disclosure for this sale can be found here. Insiders have sold a total of 72,794 shares of company stock worth $7,028,546 over the last quarter. Insiders own 5.50% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Alps Advisors Inc. increased its position in Cabot Microelectronics by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 6,872 shares of the semiconductor company’s stock valued at $507,000 after acquiring an additional 18 shares during the period. BB&T Securities LLC increased its position in Cabot Microelectronics by 0.6% in the 2nd quarter. BB&T Securities LLC now owns 8,468 shares of the semiconductor company’s stock valued at $625,000 after acquiring an additional 48 shares during the period. Advisor Group Inc. increased its position in shares of Cabot Microelectronics by 4.5% during the 2nd quarter. Advisor Group Inc. now owns 2,329 shares of the semiconductor company’s stock valued at $172,000 after purchasing an additional 100 shares during the period. Arizona State Retirement System increased its position in shares of Cabot Microelectronics by 0.8% during the 2nd quarter. Arizona State Retirement System now owns 13,157 shares of the semiconductor company’s stock valued at $971,000 after purchasing an additional 100 shares during the period. Finally, Stifel Financial Corp increased its position in shares of Cabot Microelectronics by 0.8% during the 2nd quarter. Stifel Financial Corp now owns 19,018 shares of the semiconductor company’s stock valued at $1,404,000 after purchasing an additional 147 shares during the period. Hedge funds and other institutional investors own 93.12% of the company’s stock.

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About Cabot Microelectronics

Cabot Microelectronics Corporation supplies polishing slurries and pads used in the manufacture of integrated circuit (IC) devices within the semiconductor industry, in a process called chemical mechanical planarization (CMP). The Company is engaged in the development, manufacture and sale of CMP consumables.

Analyst Recommendations for Cabot Microelectronics (NASDAQ:CCMP)

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